It is believed Madrid paid around 80 million euros for James, which would make him the fourth-most expensive player of all time, behind only Luis Suarez, Cristiano Ronaldo and Gareth Bale.

Thousands of cheering fans welcomed the Colombian to Madrid at his official unveiling at the Bernabeu, where Florentino Perez greeted his new galactico.

PLAYERS TO MOVE CLUBS AFTER WINNING GOLDEN BOOT

2014: James Rodriguez (Colombia) - Monaco to Real Madrid

2002: Ronaldo (Brazil) - Inter Milan to Real Madrid

1994: Oleg Salenko (Russia) - Logroñés to Valencia

1986: Gary Lineker (England) - Everton to Barcelona

1930: Guillermo Stábile (Argentina) - Huracán to Genoa

Perez said the late Madrid great and honorary president Alfredo Di Stefano had also come to the club from Colombia, where he had been playing before his arrival in Spain.

Rodriguez offered a simple statement to his new supporters, saying: "I hope to win many titles here, Hala Madrid."

He later told a news conference: "The numbers mean nothing to me. I just want to help make history and bring joy to the Madrid fans. This is a club which is used to winning and I'm prepared mentally and physically to do so. It is a pleasure to be among so many stars and I'm sure I'll learn a lot from everyone.

"I've always followed Real Madrid and always dreamed of playing here. I've suffered a lot to get here and when you do that then it tastes so much better. I will never forget this day. I hope to work hard, to train well, and to experience a lot of joy here. I know I am under a lot of pressure, but I am happy to face it."

James contributed nine goals and 12 assists last season to help Monaco qualify for the Champions League but it was at the World Cup that he really shone, scoring six goals in five games to win the Golden Boot.

He will wear the No. 10 shirt at Madrid, vacated when Mesut Ozil left Madrid for Arsenal.